Globe Life Inc (GL) has priced their previously announced junior subordinated debentures with a maturity date in 2061.
The coupon is 4.25%. The issue is investment grade.
Proceeds from the offering will be used to redeem the 6.125% debentures (GL-C) which are callable starting on 6/15/2021.
There will be no OTC trading prior to the issue trading on the NYSE.
The pricing term sheet can be read here.
hard pass on this new issue.
james
Nuts! I own GL-C… keep getting called out. Where does it end?
Luckily I am very aware of call risk and only buy where the YTC is positive… and preferable more than 1%… so more of an annoyance than a disaster.